- BlackRock’s Cash Bitcoin ETF (IBIT) has nearly $20 billion in assets and is currently in the top 3% of all ETFs.
- IBIT and FBTC recorded 59 days of inflows, a streak that places both companies in the top 20 ETFs.
- Meanwhile, Bitcoin price could hit new all-time highs due to spot ETFs and halving sentiment.
BlackRock’s Spot Bitcoin ETF (IBIT) continues to outperform its peers as inflows surge.
The data also shows that IBIT is not only in the top 20 in terms of longest streak of inflows, but is also rising in total assets rankings.
Bloomberg ETF analyst Eric Balchunas shared these details on Monday. He pointed out that BlackRock’s Spot Bitcoin ETF ranks within the top 3% of all ETFs relative to total assets held.
According to analysts, IBIT is close to reaching $20 billion in assets, an achievement that could match Bitcoin’s new all-time high.
BlackRock’s IBIT leads its peers.
BlackRock, the world’s leading asset manager, recently updated its list of approved participants (APs) to include banking and investment giants Goldman Sachs, Citigroup, Citadel and UBS.
At the time of X posting, IBIT’s assets under management were $18.96 billion, ranking 88th.Day Overall.
This means that the new spot Bitcoin ETF now sits above some of the oldest ETFs on the market. Those that IBIT outperformed included the iShares MSCI Emerging Markets ETF (EEM), VanEck Semiconductor ETF (SMH), iShares MSCI Japan ETF (EWJ), and iShares TIPS Bond ETF (TIP).
$ goes With assets of nearly $20 billion, it ranks 88th among all ETFs, putting it in the top 3%. We just passed a bunch of veterans, including some veterans. $EEM, $EWJ, $SMH and $TIP pic.twitter.com/IgmuHpFlKb
— Eric Balchunas (@EricBalchunas) April 8, 2024
On this day, Balchunas famous BlackRock’s IBIT and Fidelity’s FBTC ETFs “have now been in cash for 59 consecutive days.”
This means that both ETFs are trending in the all-time top 20 charts. A hot streak puts this ETF in a league of its own compared to other newly launched or active ETFs in the streak.
Keep moving: $ goes and $FBTC It has now cashed in for 59 consecutive days and is currently in the top 20 of all time. (That said, they are in a league of their own when it comes to active streaks or newborn streaks)@thetrinianalyst pic.twitter.com/3cdYorXjOT
— Eric Balchunas (@EricBalchunas) April 8, 2024
Bitcoin price hits all-time high
The continued pace of spot Bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) in January of this year has helped boost Bitcoin prices.
On Monday, BTC rose above $72,600. It’s trading around $71,900 at the time of writing, but a bullish mood could see the benchmark cryptocurrency hit a new all-time high, surpassing the highs it reached in mid-March.
Bitcoin’s current all-time high was reached at $73,737 on March 14, 2024, according to data from CoinGecko. Analysts predict Bitcoin price will explode after halving.